Author: Ben Fidler

Ben is former Xconomy Deputy Editor, Biotechnology. He is a seasoned business journalist that comes to Xconomy after a nine-year stint at The Deal, where he covered corporate transactions in industries ranging from biotech to auto parts and gaming. Most recently, Ben was The Deal’s senior healthcare writer, focusing on acquisitions, venture financings, IPOs, partnerships and industry trends in the pharmaceutical, biotech, diagnostics and med tech spaces. Ben wrote features on creative biotech financing models, analyses of middle market and large cap buyouts, spin-offs and restructurings, and enterprise pieces on legal issues such as pay-for-delay agreements and the Affordable Care Act. Before switching to the healthcare beat, Ben was The Deal's senior bankruptcy reporter, covering the restructurings of the Texas Rangers, Phoenix Coyotes, GM, Delphi, Trump Entertainment Resorts and Blockbuster, among others. Ben has a bachelor’s degree in English from Binghamton University.

East Coast Biotech Roundup: Alkermes, Zafgen, Snowmaggedon & More

Winter Storm Jonas is headed for the East Coast, and the panicked grocery shopping and traffic nightmares have already begun. It’s impacted biotech too, postponing what would have been one of the most closely watched FDA advisory panels in recent memory. So hurry up and grab your bread and milk before you get snowed in—but … Continue reading “East Coast Biotech Roundup: Alkermes, Zafgen, Snowmaggedon & More”

NYC’s Disruptive Biotech Startups take the Stage on March 29

There’s something going on in New York biotech. The Big Apple has long been an afterthought in life sciences. Glitzy new biotech startups form seemingly every week in Boston and the San Francisco Bay Area, not New York with its sky high rents and lack of lab space. But for a multitude of reasons, things … Continue reading “NYC’s Disruptive Biotech Startups take the Stage on March 29”

Depression Trials Fail, Alkermes Sees Silver Lining. Investors Don’t.

Depression is a notoriously difficult disease to test new drugs against for a multitude of reasons. One reason is that a pervasive placebo effect tends to cloud the clinical trial data. Alkermes hoped it had the answer. It has been testing an experimental drug in an unusual kind of trial designed specifically to set aside … Continue reading “Depression Trials Fail, Alkermes Sees Silver Lining. Investors Don’t.”

Some Good News, Finally, for Zafgen’s Obesity Drug

It’s been a turbulent year for Zafgen, to say the least. Two patients died in a Phase 3 clinical trial of its leading drug candidate and, in December, the FDA halted all studies of the drug. Zafgen’s stock tumbled, and shareholders filed lawsuits against the company. The future of the company’s drug, a potential treatment … Continue reading “Some Good News, Finally, for Zafgen’s Obesity Drug”

With Second Eye Drug Flop, Eleven Heads Back to Drawing Board

Eleven Biotherapeutics started out with a plan to make a portfolio of custom-designed protein drugs for a range of diseases before it changed course and started focusing exclusively on eye drugs. The strategy initially paid off, too: The Cambridge, MA-based company went public in February 2014 on the strength of some early data for a … Continue reading “With Second Eye Drug Flop, Eleven Heads Back to Drawing Board”

Acorda Doubles Down on Parkinson, Buys Biotie For $363M

A few years ago Acorda Therapeutics bought Civitas Therapeutics, a biotech about to go public, in a bid to branch out into Parkinson’s. Clearly, that wasn’t a one-off move; this morning, Acorda added two more potential treatments for the disorder by acquiring Finland’s Biotie Therapies. Acorda (NASDAQ: [[ticker:ACOR]]), of Ardsley, NY, is paying $363 million … Continue reading “Acorda Doubles Down on Parkinson, Buys Biotie For $363M”

FDA Rejects BioMarin’s Duchenne Drug, Sarepta Up Next

The FDA on Thursday rejected an experimental drug for Duchenne muscular dystrophy from BioMarin Pharmaceutical, a decision that doesn’t necessarily come as a surprise given the harsh criticism of the drug at an advisory panel in November. BioMarin (NASDAQ: [[ticker:BMRN]]), of San Rafael, CA, said that the FDA decided not to approve drisapersen (Kyndrisa) because … Continue reading “FDA Rejects BioMarin’s Duchenne Drug, Sarepta Up Next”

Eyeing First Trials, Syros Brings in $40M and More Crossovers

Publicly traded biotech stocks have been getting pounded during this year’s J.P. Morgan Healthcare Conference in San Francisco, but money is still flowing into privately held startups this week. The latest is Syros Pharmaceuticals, which continues to add to its syndicate of backers. Cambridge, MA-based Syros, a startup founded by Flagship Ventures and Arch Venture … Continue reading “Eyeing First Trials, Syros Brings in $40M and More Crossovers”

Warp Drive, Surface, Bamboo Cut Deals on Eve of J.P. Morgan

There’s always some last-minute dealmaking on the eve of the annual J.P. Morgan Healthcare Conference in San Francisco, and this year is no exception. Here are a few of the East Coast highlights to cross Xconomy’s radar screen as we gear up for this year’s festivities. —Sanofi and Warp Drive Bio have had a unique … Continue reading “Warp Drive, Surface, Bamboo Cut Deals on Eve of J.P. Morgan”

Accelerator, Gates Team Up in NY to Put $17M Into Rockefeller Startup

Seattle’s Accelerator Corp. made its long-awaited splash in New York last week with its first Manhattan biotech startup, Petra Pharma. Now here comes Lodo Therapeutics, Accelerator’s second startup, right in Petra’s wake. Lodo didn’t get the big $48 million round that Petra did last week. But the startup, built around the work of Rockefeller University … Continue reading “Accelerator, Gates Team Up in NY to Put $17M Into Rockefeller Startup”

East Coast Bio Roundup: NY Startups, Editas, Bonney, C4 & (Much) More

Most everyone in biotech is on their way to San Francisco this weekend, making their annual trek to the J.P. Morgan Healthcare Conference for a few days of wall-to-wall meetings, schmoozing, and state-of-the-industry pontifications. But rather than get swallowed up by the conference maelstrom, biotechs try to get their big news out ahead of the … Continue reading “East Coast Bio Roundup: NY Startups, Editas, Bonney, C4 & (Much) More”

Former Abbott, Melinta Exec Steps into Head Seat at Aegerion

Mary Szela has been named the CEO of Cambridge, MA-based Aegerion Pharmaceuticals (NASDAQ: [[ticker:AEGR]]). Szela replaces Sandford Smith, who has been Aegerion’s interim CEO since Marc Beer resigned in July. She’s coming off a stint as CEO of Melinta Therapeutics, and spent more than a decade at Abbott Laboratories before that. Smith, meanwhile, will serve … Continue reading “Former Abbott, Melinta Exec Steps into Head Seat at Aegerion”

UniQure’s Shares Rise on Early Gene Therapy Data For Hemophilia

There are a slew of gene therapy companies trying to develop a long-lasting, perhaps even permanent treatment for hemophilia. The proof that these companies can really make an impact on the disease will come out in dribs and drabs from clinical trials over the next several years, and today, one of them, Dutch firm UniQure, … Continue reading “UniQure’s Shares Rise on Early Gene Therapy Data For Hemophilia”

Tech Mogul, Patriots Owner Lavish $73M On Dana-Farber Startup

When physician-scientist Jay Bradner left the Dana-Farber Cancer Institute last year, he left behind some key scientific work that had already intrigued a group of investors. Bradner is now president of the Novartis Institutes for Biomedical Research, but his Dana-Farber research continued in the hands of others. It’s now the basis of a new startup … Continue reading “Tech Mogul, Patriots Owner Lavish $73M On Dana-Farber Startup”

OvaScience Names Harald Stock New CEO, Dipp to Step Down

Michelle Dipp will step down as the CEO of Waltham, MA-based OvaScience (NASDAQ: [[ticker:OVAS]]), the fertility company she helped found in 2011. On July 1, Dipp will become OvaScience’s executive chairman, while Harald Stock will take up her old position as CEO. She’ll help Stock “evolve the company’s corporate strategy and will focus on business … Continue reading “OvaScience Names Harald Stock New CEO, Dipp to Step Down”

Ever Fond of Options, Atlas Finds Potential Buyers For Rodin, Quartet

Biotech venture firms take a number of different approaches to lowering the risk of an inherently risky business. One of them is known as the option-to-buy deal, when one company agrees to buy another on prearranged terms, after certain milestones are met. And they’re clearly a preferred tool of Cambridge, MA-based Atlas Venture, which just … Continue reading “Ever Fond of Options, Atlas Finds Potential Buyers For Rodin, Quartet”

With $48M For Petra Pharma, Accelerator Places First NYC Bet

Seattle’s Accelerator Corp. has been largely silent since it opened up an office in New York a year and a half ago with a $50 million-plus bankroll and a plan to start up some new biotechs in Manhattan. But that’s changing today, because the first of those companies, Petra Pharma, is making its debut with … Continue reading “With $48M For Petra Pharma, Accelerator Places First NYC Bet”

With $2.25M More, Tara Bio Grows And Hunts For NYC Lab Space

Slowly, the ranks of New York biotechs are increasing, thanks in part to a growing group of early-stage venture capitalists dipping their toes in the local startup scene. Tara Biosystems is one of those startups, and today it’s brought a few new investors in as part of a plan to take root and grow in … Continue reading “With $2.25M More, Tara Bio Grows And Hunts For NYC Lab Space”

Scholar Rock Rolls Up $36M To Move Muscle Drug To Clinical Trials

In recent years, a number of drug companies have zeroed in on a protein called myostatin, which can limit muscle growth and even cause them to waste away in certain diseases. A startup called Scholar Rock is now part of that group, and the Cambridge, MA-based company said today it has raised the cash needed … Continue reading “Scholar Rock Rolls Up $36M To Move Muscle Drug To Clinical Trials”

In Brooklyn, An Incubator Perseveres As Biotech Perks Up in the City

Ask a New Yorker where to find an affordable apartment, and one of the most popular answers these days is Brooklyn. A SUNY Downstate Medical Center professor named Eva Cramer has been trying to prove for years that the old borough is the answer for the city’s lab space problem too. It hasn’t been an … Continue reading “In Brooklyn, An Incubator Perseveres As Biotech Perks Up in the City”

Bayer, CRISPR Therapeutics Form $335M+ Gene Editing Venture

Every day, the landmark gene editing system known as CRISPR-Cas9 inches closer towards becoming a real method of treating human disease. It’s no surprise, then, that more and more large biotech and pharmaceutical companies are taking a vested interest in its progress. The latest is Bayer, which has just aligned itself with one of the … Continue reading “Bayer, CRISPR Therapeutics Form $335M+ Gene Editing Venture”

Months After Postponed IPO, Gelesis Nabs $31.5M And a New Investor

Gelesis shied away from an IPO last year, and instead saw its owner, PureTech Health, take the leap and start trading on the stock market in London. But now the weight-loss startup has gotten the type of financial backers that signal it might be thinking of a second attempt. Gelesis, of Boston, raised a new $31.5 million … Continue reading “Months After Postponed IPO, Gelesis Nabs $31.5M And a New Investor”

Still Years From Clinic, Navitor Gets $33M And More Pharma Friends

These are early days for Navitor Pharmaceuticals. It’ll be a few years before the Cambridge, MA-based startup can even test its idea, to hit a well-known disease target with drugs in a new way, in human volunteers. But a number of large pharma companies are paying millions of dollars to keep a close eye on … Continue reading “Still Years From Clinic, Navitor Gets $33M And More Pharma Friends”

Biogen, Arsia Team Up to Improve Hemophilia Drugs in $100M Pact

Protein drugs have become a critical part of healthcare. They attack diseases differently than old fashioned small molecule drugs, and have helped the biotech industry rise to prominence over the past few decades. But proteins have their limitations. Many have to be taken frequently, or infused in hospitals, to work the way they should. Lessening … Continue reading “Biogen, Arsia Team Up to Improve Hemophilia Drugs in $100M Pact”

East Coast Biotech Roundup: ASH, Kallyope, SQZ, Kyras & More

Boston and New York are known for their sports rivalries, particularly the century-old blood feud between the Yankees and Red Sox. As locals know, for most of that time, Yankees-Red Sox wasn’t much of a rivalry. The mythical “Curse of the Bambino” ensured the Yankees were the hammer, and the Red Sox the nail—until a … Continue reading “East Coast Biotech Roundup: ASH, Kallyope, SQZ, Kyras & More”

With Startup, Bio Pioneer Tom Maniatis Looks to Spark NY Scene Again

When molecular biology pioneer Tom Maniatis left Harvard University for New York six years ago, he set his sights on creating the same entrepreneurial foment that he’d come to know in Cambridge, MA. Many years before moving to New York, he helped found Genetics Institute, one of the biotech industry’s early trailblazing companies. It’s fair … Continue reading “With Startup, Bio Pioneer Tom Maniatis Looks to Spark NY Scene Again”

In New York and Montreal, Versant Seeds Two New Biotech Startups

Over the past few years, Versant Ventures has set up outposts in places like New York, Montreal, and Vancouver, with the goal of starting some new life sciences companies outside the biotech hotbeds of San Francisco and Boston. Two of those startups, known as Inception IBD and Kyras Therapeutics, are launching today with some financial … Continue reading “In New York and Montreal, Versant Seeds Two New Biotech Startups”

With SQZ Deal, Roche Finally Dips Its Toes into Cell Therapy

Roche is the world’s biggest maker of cancer drugs, but it hasn’t moved into cellular immunotherapy, one of oncology’s most promising new treatments that turns our own immune cells into cancer killers. Today the Swiss company is taking the plunge by turning to tiny Boston startup SQZ Biotech and working on a form of immunotherapy … Continue reading “With SQZ Deal, Roche Finally Dips Its Toes into Cell Therapy”

NY Stem Cell Foundation Grows, Eyes Forming Big Apple Bio Incubator

Over the past few years, the first biotech startup incubators have popped up in New York City in places like Brooklyn and West Harlem. And there’s a chance the next one may come from an unlikely source: a nonprofit organization known as the New York Stem Cell Foundation. According to Susan Solomon, the CEO and … Continue reading “NY Stem Cell Foundation Grows, Eyes Forming Big Apple Bio Incubator”

Zafgen Shares Fall Again as Second Patient Dies in Trial

[Updated, 12/3/15, see below] A second patient on an experimental treatment from Boston-based Zafgen has died from a pulmonary embolism, casting even more doubt on the future of the drug. Zafgen (NASDAQ: [[ticker:ZFGN]]) said in a statement Wednesday morning that it learned on Tuesday that a patient with Prader-Willi Syndrome taking its drug, beloranib had … Continue reading “Zafgen Shares Fall Again as Second Patient Dies in Trial”

NinePoint, Under New Leadership, Bags $31M More For Imaging Tech

NinePoint Medical looks to have added roughly $31 million in financing to back its medical imaging technology. According to a regulatory filing, the Bedford, MA-based company has raised about $30.7 million in new venture funding and could add about $10 million more to the pot. The filing lists three investors: they appear to be founding … Continue reading “NinePoint, Under New Leadership, Bags $31M More For Imaging Tech”

At Duchenne Panel, Parents Plead With Experts, FDA Decision Looms

In one of the more dramatic biotech events in recent memory, the FDA convened an advisory panel on Tuesday to weigh the risks and benefits of a drug called drisapersen, which has the chance to be the first FDA-approved treatment for Duchenne muscular dystrophy—a progressive, fatal genetic disease. The panel’s task was unusual, as far … Continue reading “At Duchenne Panel, Parents Plead With Experts, FDA Decision Looms”

East Coast Biotech Roundup: Pfizergan, Zafgen, Codiak, Boston Pharma

It’s the time of year for Americans to rack up massive bills on shopping sprees, gorge themselves with calories they don’t need, then worry how they’re going to make it all fit when normal life resumes. We’re talking of course about the just-announced $160 billion Pfizer-Allergan merger, a deal that could have implications for patients … Continue reading “East Coast Biotech Roundup: Pfizergan, Zafgen, Codiak, Boston Pharma”

After a Clinical Trial Death, Zafgen Presses On, Families Stay Calm

[Update: Zafgen announced on Dec. 2 that a second patient in its clinical trial has died, see more details here.] Whether or not a new drug is approved boils down to one basic question: How does the risk of taking the treatment balance against the benefit it provides? And the weight that regulators give to … Continue reading “After a Clinical Trial Death, Zafgen Presses On, Families Stay Calm”

Ex-Sanofi CEO Gets $600M to Drug Hunt With Boston Pharma

Former Sanofi CEO Chris Viehbacher was handed the keys to a big biotech fund from Gurnet Point Capital a few months ago, and today he announced what he’s doing with it. Viehbacher (pictured above) will become the chairman of a new company, based in Cambridge, MA, called Boston Pharmaceuticals. This isn’t your average startup, founded … Continue reading “Ex-Sanofi CEO Gets $600M to Drug Hunt With Boston Pharma”

Waving White Flag, Celladon Merges With Rare Disease Co. Eiger Bio

A slew of companies have gone public amidst gene therapy’s recent renaissance, and technological advances have gotten these types of treatments closer than they’ve ever been to impacting healthcare in the U.S. But today, Celladon offered a reminder of how quickly it can all go wrong in gene therapy. The San Diego biotech and its … Continue reading “Waving White Flag, Celladon Merges With Rare Disease Co. Eiger Bio”

Big Bucks, Tiny Bubbles: Ex-Biogen Exec’s Exosome Startup Nabs $80M

Exosomes were once thought of as cellular garbage bins, bubbles filled with waste and shipped out for elimination. But a more sophisticated view of exosomes—and a better understanding of their biological role—has led companies to exploit their diagnostic and therapeutic potential. The latest startup is Codiak BioSciences, which has just reeled in over $80 million … Continue reading “Big Bucks, Tiny Bubbles: Ex-Biogen Exec’s Exosome Startup Nabs $80M”

WaVe, Voyager Get $170M Combined in Biotech’s Latest IPO Tests

Two privately held biotechs in the Boston area priced IPOs on Tuesday with similar estimates about their value. One of them hit its mark, thanks to some help from a few insiders, but the other fell a bit short. WaVe Life Sciences, of Cambridge, MA, priced 6,375,000 shares at $16 apiece, raising $102 million. That’s … Continue reading “WaVe, Voyager Get $170M Combined in Biotech’s Latest IPO Tests”

Ex-Blueprint Med CEO Resurfaces With $7.5M to Fight Genetic Blindness

People lose their vision most often because, simply speaking, they grow old. But in rare cases, a genetic defect leads to a blindness in children and teenagers called Stargardt disease. As with many rare diseases, there are no effective treatments for Stargardt.  The Boston startup Vision Medicines hopes to change that. There’s a long way … Continue reading “Ex-Blueprint Med CEO Resurfaces With $7.5M to Fight Genetic Blindness”

East Coast Biotech Roundup: Bluebird, Solid GT, Evelo, Dyax & More

Congrats to the Kansas City Royals, which used a series of dramatic late-inning comebacks to break the hearts of New York Met fans from Bayside to Astoria and claim their first championship in 30 years. That left the city in a somber mood this past week, although the news wasn’t all bad for Met fans … Continue reading “East Coast Biotech Roundup: Bluebird, Solid GT, Evelo, Dyax & More”

Biogen Helps Put $42.5M Into a Father’s Duchenne Gene Therapy Quest

Duchenne Muscular Dystrophy is a progressive muscle wasting disease that affects about 300,000 people, primarily boys, around the world. Patients with the disease lose ability to walk by their teens, and often die from one of a number of complications—like respiratory or heart failure—at a young age. There is no cure and no effective treatment. … Continue reading “Biogen Helps Put $42.5M Into a Father’s Duchenne Gene Therapy Quest”

New Bluebird Data Hint at Gene Therapy’s Limits For Some Patients

Bluebird Bio has helped catalyze gene therapy’s recent renaissance with snippets of human data that hint of a long-lasting, perhaps even one-time fix for a crippling blood disorder known as beta-thalassemia. However, the Cambridge, MA-based company released data today that dampen the hopes for a long-term fix for some of the folks with the most … Continue reading “New Bluebird Data Hint at Gene Therapy’s Limits For Some Patients”

Boston Biotech Veteran Trehu Leaves Promedior For Jounce

Elizabeth Trehu has been named the new chief medical officer of Cambridge, MA-based Jounce Therapeutics. Trehu is a veteran of the Boston biotech scene. She was most recently the CMO of Promedior, and had executive roles at Infinity Pharmaceuticals (NASDAQ: [[ticker:INFI]]), Genzyme, and Millennium Pharmaceuticals before that. Bristol-Myers Squibb recently paid $150 million for an … Continue reading “Boston Biotech Veteran Trehu Leaves Promedior For Jounce”

Exosome Dx Switches CEOs, Taps Ex-GnuBio Exec For Top Seat

Cambridge, MA-based Exosome Diagnostics has named John Boyce its new CEO, taking over for Tom McLain. Boyce previously was the CEO of GnuBio, a DNA sequencing company that was sold to Bio-Rad for $110 million last year. Exosome, which is developing so-called liquid biopsies for prostate and lung cancer, is clearly thinking of a similar … Continue reading “Exosome Dx Switches CEOs, Taps Ex-GnuBio Exec For Top Seat”

Still Eyeing Baxalta, Shire Pulls Trigger on $6.5B Dyax Buyout

With biotech stocks well off their highs, it was only a matter of time until someone pulled the trigger on a big buyout. That someone has turned out to be Shire, which just agreed to buy Dyax of Burlington, MA, in a deal worth as much as $6.5 billion. Shire (NYSE: [[ticker:SHPG]]), the rare disease … Continue reading “Still Eyeing Baxalta, Shire Pulls Trigger on $6.5B Dyax Buyout”

Despite Sanofi’s Help, MyoKardia Prices IPO Below Expectations

One thing is becoming clear to companies in today’s biotech IPO market: Don’t expect the market value you would’ve gotten a year ago. San Francisco-based MyoKardia was the latest example. The company priced 5,437,500 shares at $10 apiece, for a roughly $50.5 million haul after discounts due to underwriters. Even with the help of partner … Continue reading “Despite Sanofi’s Help, MyoKardia Prices IPO Below Expectations”

Taris 2.0: A Year After Buyout, VCs Bet $32M More on a Second Strike

It’s hard enough to successfully create and sell a biotech company, let alone strike gold twice or more on the same group of assets. But that’s the type of thing Taris Biomedical and its venture backers are shooting for, a year after selling one of the company’s programs to Irvine, CA-based Allergan (NYSE: [[ticker:AGN]]). In … Continue reading “Taris 2.0: A Year After Buyout, VCs Bet $32M More on a Second Strike”